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Author: jamorgan Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Motivation for Paying off CC's Date: 4/28/1999 2:20 PM
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If you ever wanted motivation for paying off your credit cards, set up a mock stock portfolio worth your credit card debt. Then, compare what you have paid in interest and charges to what you would have made on the stocks. I did this with the Foolish Four back in january and after checking it today I was almost sick. I currently have about $9500 that I am trying to pay down. I have earned 18% on my Foolish Four stocks, thats about $1710. Then I have also paid about $250 in interst payments for a grand total of $1960 IN FOUR MONTHS. Thats $500/mo. that I am loosing because of the plastic beast. I am sure this is obvious to most ouf you out there, but I thought I would share it as motivational thinking.


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